Vietnam is building strategies to attract the world’s leading semiconductor companies, including those from South Korea and the US.

Vietnam’s Prime Minister Pham Minh Chinh (R) and Jong-Rib Ji, Vice-President at Amkor Technology, Inc. in Hanoi on Oct 12. Photo: VNA

Vietnam’s Prime Minister Pham Minh Chinh made the statement at the meeting with Jong-Rib Ji, Vice-President at Amkor Technology, Inc. one of the world’s largest providers of outsourced (OSAT) semiconductor packaging, design, and test services.

Founded in 1968 in both the US and South Korea, Amkor Technology, Inc. has nearly 30 subsidiaries worldwide employing more than 31,000 people. Its revenues totaled US$7.1 billion in 2022.  

Chinh said Vietnam expected to make breakthroughs in developing the semiconductor industry by attracting international investment, developing manpower, and encouraging Vietnamese businesses’ engagement in the industry’s value chain.

The prime minister highly appreciated Jong-Rib Ji’s visit which comes as Vietnam and the US celebrate the 10th anniversary of the upgrading of bilateral ties to a comprehensive partnership and elevate the relations to a comprehensive strategic partnership.

Meanwhile, Vietnam-South Korea relations have yielded fruitful achievements. In June, South Korean President Yoon Suk-yeol visited Vietnam, his first visit to Southeast Asia since taking office in May 2022, demonstrating the importance of the relations between Vietnam and South Korea. 

Both South Korea and the US are leading partners of Vietnam, Chinh said.

He requested Amkor to support Vietnam in the semiconductor industry through contributions to policymaking, technology transfer, human resource training, enhancing management capability, investing in infrastructure and fostering collaboration with Vietnam’s National Innovation Center (NIC).

He suggested that Amkor speed up localization and chip development, increase investment, and create favorable conditions for Vietnamese companies to join its global semiconductor chips supply chain.

The prime minister asked Bac Ninh’s authorities to work closely with government agencies to swiftly implement Amkor’s proposals and create the best possible business environment for the company in Vietnam.

Vietnam plans to train 50,000 people to work in the semiconductor industry by 2030. The country also creates a national ecosystem for the industry with the involvement of all stakeholders, including the government, companies, universities, research institutes, and financial institutions.

Ji Jong Rip, for his part, thanked the government and localities for supporting Amkor’s operations in Vietnam and reaffirmed the company’s commitment to the business and building its semiconductor ecosystem in Vietnam.

He specifically stated that Amkor is committed to increasing the number of highly skilled engineers and staff in Vietnam while mobilizing highly skilled engineers and experts from other sites across the globe.

Asserting his strong support for Vietnam, Ji Jong Rip stated that he would encourage other investors to invest in the country, creating impetus for Vietnam to join the group's worldwide network.

On October 11, Deputy Prime Minister Tran Luu Quang attended the inaugural ceremony of Amkor’s semiconductor factory in Yen Phong 2 Industrial Park in Bac Ninh Province. The facility represents a total investment of US$1.6 billion, employs approximately 2,000 people and is expected to hire about 10,000 by 2035.